Lord Peter Mandelson, the business secretary, has revealed the government is
considering selling a minority stake in its poor-performing
Royal Mail in
what he describe as an essential move to maintain deliveries six days a week
across the UK.
The Dutch postal giant TNT
responded immediately, saying it was eager to open talks on developing a
‘strategic partnership’ with Royal Mail. Other possible bidders include
German-owned DHL Express and UK’s Business Post Group, The Independent
It is understood ministers – who are said to have started urgent negotiations
with private investors leading up to a decision early in the new year – will
offer a stake of between 25% and 33% in Royal Mail.
The business secretary told peers a massive injection of private capital was
vital to secure Royal Mail’s long-term future. ‘It is the only company capable
of delivering mail to every address in the UK, six days a week, and… that will
be the case for the foreseeable future. So a healthy Royal Mail is vital to
sustaining the universal service,’ he said.
Plans to tackle criminals defrauding London’s councils have taken a major step forward with the appointment of CIPFA to provide data analytics for the London Counter Fraud Hu
Government services will be decimated if proposed reforms to IR35 in the public sector go ahead, a study has warned
CIPFA and EY form partnership to produce fully compliant accounts for local authorities
Head of editorial Kevin Reed discusses this week's important accountancy news, including Brexit and audit market evolution